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Labcorp to Split Into Lab, Clinical Trials Businesses

Labcorp
Photographer: Smith Collection/Gado/Archive Photos

Labcorp, a diagnostics and laboratory company, is spinning off its clinical trials division into a separate publicly traded company.

Labcorp will house the company’s existing global laboratory business while the new company will manage clinical trials for drug companies. Management said in a release Thursday that this structure will allow each division more flexibility to grow within their individual markets.